NFL stadium in downtown Los Angeles is 'one giant step closer'

Stating Los Angeles is "one giant step closer to bringing the NFL back," Mayor Antonio Villaraigosa and Anschutz Entertainment Group President and CEO Tim Leiweke signed off Wednesday on a deal for a football stadium and convention center hall in downtown L.A.

Standing outside the West Hall of the Los Angeles Convention Center, which would be demolished to build the stadium, the mayor and AEG executive signed key financial documents authorizing the 72,000 seat stadium and new hall.

Villaraigosa and Leiweke were joined City Councilwoman Jan Perry, who represents part of downtown and Maria Elena Durazo, head of the Los Angeles County Federation of Labor, along with other local leaders at the ceremony.

The mayor's signature on the 1,000-plus page financial agreement follows last week's City Council approval of the environmental impact report for the project.

Despite the city's stamp of approval, numerous hurdles remain. A lawsuit was filed in August against the state over special legislation granted to AEG that expedites lawsuits over the stadium.*

Additionally, AEG, which is being sold by parent company Anschutz Co., is seeking both a new buyer and someone to purchase part or all of a football team to play in the new stadium. Until a lease is signed with a team, AEG can't start construction on the stadium.

At Wednesday's press conference, Villaraigosa told audience members he met with NFL Commissioner Roger Goodell during a recent trip to New York. He didn't elaborate on the details of the meeting.